Company Valuation: GMO internet group, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 2,99,022 2,63,183 2,72,092 2,80,693 3,96,058 3,76,488 - -
Change - -11.99% 3.38% 3.16% 41.1% -4.94% - -
Enterprise Value (EV) 1 3,53,549 3,12,373 3,52,207 3,66,397 2,26,810 4,76,050 3,32,397 3,76,488
Change - -11.65% 12.75% 4.03% -38.1% 109.89% -30.18% 13.26%
P/E 17x 20x 19.2x 21.2x 24.9x 17.2x 14.7x 14.6x
PBR 4.05x 3.65x 3.3x 3.25x 3.87x 4.27x 3.74x 3.26x
PEG - -0.9x 2.34x -4.16x 1x 0.4x 0.9x 14.13x
Capitalization / Revenue 1.24x 1.07x 1.05x 1.01x 1.39x 1.2x 1.13x 1.05x
EV / Revenue 1.46x 1.27x 1.36x 1.32x 0.79x 1.52x 0.99x 1.05x
EV / EBITDA 6.99x 5.44x 6.28x 5.95x 3x 5.86x 3.58x -
EV / EBIT 8.6x 7.14x 8.29x 7.85x 3.97x 6.95x 4.2x 4.16x
EV / FCF -4.68x 11x -243x 27.7x 4.04x 9.14x 5.71x 6.29x
FCF Yield -21.4% 9.11% -0.41% 3.61% 24.8% 10.9% 17.5% 15.9%
Dividend per Share 2 52.7 47.6 44.1 41.8 52 74 84.98 86.5
Rate of return 1.94% 1.93% 1.72% 1.56% 1.33% 1.94% 2.23% 2.27%
EPS 2 159.7 123.2 133.3 126.5 157.6 221.6 258.7 261.4
Distribution rate 33% 38.6% 33.1% 33% 33% 33.4% 32.8% 33.1%
Net sales 1 2,41,446 2,45,696 2,58,643 2,77,407 2,85,626 3,13,297 3,34,519 3,58,900
EBITDA 1 50,613 57,412 56,051 61,607 75,651 81,250 92,850 -
EBIT 1 41,097 43,746 42,471 46,653 57,170 68,501 79,104 90,500
Net income 1 17,527 13,209 14,191 13,373 16,102 17,245 25,218 25,400
Net Debt 1 54,527 49,190 80,115 85,704 -1,69,248 99,562 -44,091 -
Reference price 2 2,715.00 2,466.00 2,563.00 2,680.00 3,918.00 3,807.00 3,807.00 3,807.00
Nbr of stocks (in thousands) 1,10,137 1,06,725 1,06,161 1,04,736 1,01,087 98,894 - -
Announcement Date 10/02/22 13/02/23 13/02/24 12/02/25 12/02/26 - - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
17.18x1.52x5.86x1.94% 231.88Cr
15.77x4.31x10.04x1.31% 54TCr
21.02x6.22x18.69x-.--% 32TCr
24.56x2.62x13.5x-.--% 15TCr
4.63x99.28x3.6x0.12% 12TCr
33.1x4.04x26.49x-.--% 9.99TCr
10.97x8.33x95.33x0.64% 9.6TCr
28.88x5.48x15.48x-.--% 8.72TCr
75.28x4.44x21.64x-.--% 8.38TCr
7.59x2.98x45.71x0.69% 4TCr
Average 23.90x 13.92x 25.63x 0.47% 15.32TCr
Weighted average by Cap. 21.50x 11.98x 19.97x 0.53%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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